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Full-Text Articles in Business
Quantifying The Impacts Of The Recent Economic Crisis On A Regional Tourism Industry And Economy, Yun Ying Zhong, Tadayuki Hara
Quantifying The Impacts Of The Recent Economic Crisis On A Regional Tourism Industry And Economy, Yun Ying Zhong, Tadayuki Hara
Hospitality Review
The purpose of this study is to explore the accuracy issue of the Input-Output model in quantifying the impacts of the 2007 economic crisis on a local tourism industry and economy. Though the model has been used in the tourism impact analysis, its estimation accuracy is rarely verified empirically. The Metro Orlando area in Florida is investigated as an empirical study, and the negative change in visitor expenditure between 2007 and 2008 is taken as the direct shock. The total impacts are assessed in terms of output and employment, and are compared with the actual data. This study finds that …